Brazil mining bill could double royalty to 4 pct

RIO DE JANEIRO, June 18 (Reuters) - Brazil unveiled a
long-awaited bill to reform the country's 46-year-old mining
code on Tuesday, proposing new royalties of up to 4 percent,
double the current rate, and a new mine regulatory agency.

Mines and Energy Minister Edison Lobão said in a televised
announcement the bill would propose an auction system for some
mining rights with concessions of 40 years, renewable for 20.